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The CARES Act, RMD, and Hardship Distribution Changes: What You Need to Know
18
May
The CARES Act, RMD, and Hardship Distribution Changes: What You Need to Know
The CARES Act (The Coronavirus Aid, Relief, and Economic Security Act) became law on March 27th, 2020. It contains significant legislation for Required Minimum Distributions (RMD) for those over age 70 ½ who have already started RMD. Under previous IRS distribution laws, a minimum distribution from a pre-tax retirement savings account, such as a 401(k), IRA, or other tax-sheltered accounts,